GM's April Sales Fall 8.2% on Fewer Selling Days
DETROIT (TheStreet) -- General Motors (GM) said April sales fell 8.2% but the automaker raised its outlook for the year.
The automaker said April sales totaled 213,387. Retail sales were flat compared with the same month a year earlier, while fleet sales declined 25%.
GM noted that April 2012 had three fewer selling days than the same month a year earlier. On a selling-day adjusted basis, total sales rose 3% and retail sales rose 12%.
"This is only second time in the last three years that this three-day variance has occurred," Don Johnson, vice president of U.S. sales operations, said on the company's sales call.
Based on higher-than-expected first-quarter industry sales and expectations that the U.S. economy will continue to grow, GM increased its full-year light vehicle sales forecast to between 14 million and 14.5 million units, up from 13.5 million to 14 million units.
"We expect gradual improvement in the economy going forward," Johnson said, in a prepared statement. "Over time, strength in the manufacturing sector and strong retail sales will lead to more job creation. That will help more consumers put the recession behind them, gain even more confidence and drive vehicle sales higher for both the industry and GM."
Chevrolet sales fell 8.4% to 155,487 units. The Sonic is the No. 2 vehicle in its segment, Johnson said on the sales call. Sales of the Chevrolet Volt totaled 1,462 units. GM said Volt sales were limited by availability in California of a new model that qualifies for high-occupancy vehicle lanes.
-- Written by Ted Reed in Charlotte, N.C.
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